Is this a good deal for Insurance?

[jimdaworm]

I am 25 years old and just got my full bike license an bought a 1998 CBR 600. :not:

Just to get me covered I got it insured though FMG who I already had car and contents insurance with.

It costs me $702 for full insurance for the bike ($7000)
plus $200 for my contents insurance.

I noticed that there is a clause that if I have held my full motorbike license for less than a year by excess goes up from $300 to $600.

I will be insuring a car soon probably only thirdparty though, Do you think I could get cheaper than this? :niceone:

[James Deuce]

That doesn't look too bad to me.

[Monsterbishi]

Sounds on the high side to me, I presume that is with 0% no claims bonus?

[Bartman10]

Fraggle rides an SV605s that's worth about the same amount as your CBR. Her insurance cost half of what you're paying. She has a very good insurance record. She's 25.

I'm paying less for my gixxer (2003, 750) than what you're paying (but not much) and I've got a bad record. My excess is quite high though..

[James Deuce]

Fraggle rides an SV605s that's worth about the same amount as your CBR. Her insurance cost half of what you're paying. She has a very good insurance record. She's 25.

I'm paying less for my gixxer (2003, 750) than what you're paying (but not much) and I've got a bad record. My excess is quite high though..

Fraggle is female. That saves you 50% right there.

[Jonty]

Sounds fine, I have the same bike and I pay $500 per year through Golightly but my excess is higher ($700), so if your excess is $300 I think you have a good deal.

My girlfreind is with FMG for medical and they have been great :niceone:

[MrMelon]

I've had my zx6r insured for $6k thru swann since I was 20 for $300ish a year. I was pretty surprised at how low that is, but I'm not complaining. I got insurance sorted through www.kiwibike.co.nz

[bugjuice]

ain't too bad to me.. don't want to know what my first year for the 636 was.. By shopping around, you might save around 50 bucks or so, but most places are roughly the same, unless it's thru a 'mate, so to speak ;)

[inlinefour]

looks good to me, who are you with BTW?

[ManDownUnder]

CIBBY - CIBBY - where are ya hun - you know about this shite...

[kerryg]

ain't too bad to me.. don't want to know what my first year for the 636 was.. By shopping around, you might save around 50 bucks or so, but most places are roughly the same, unless it's thru a 'mate, so to speak ;)


Yesterday IAG (who do my other insurances) quoted me $131 a month plus a $1000 excess. I thought that was bit high and now I'm sure of it.

[bugjuice]

Yesterday IAG (who do my other insurances) quoted me $131 a month plus a $1000 excess. I thought that was bit high and now I'm sure of it.
k, yeah, that's a couple of hundy a year more than I paid for my first year, but you have an increase on monthly payments over yearly lump sums, so might not be too far off it. The first year is harsh, then it's gets a lot easier. Shop around a bit more tho, there's a few people on KB who are our friends in times like this.. Cibby Chick and CaN can duel it out a bit.. can't remember who else..

[R6_kid]

im 18 and paying $88 a month ($1022/yr) for my R6 to be insured... its down as being worth $12500 incl aftermarket stuff... my excess if its my fault is $1500 tho :eek5:

this is with house+contents, 4 cars and my bike, and a defence force discount.

i'd say your deal is pretty sweet. unless cibby or someone else reckons they can hook me up with something cheaper im happy to stay with what i've got at the moment.

[jimdaworm]

Yeah, I have a clean drivers license as in no accidents or speeding tickets and had my car license since 1996 but only just got my full bike license a few weeks ago.

I guess the $300 extra excess if you have held your full license for less than a year is kind of fair.

Good to hear I am not being robbed blind! :niceone:

[ManDownUnder]

k, yeah, that's a couple of hundy a year more than I paid for my first year, but you have an increase on monthly payments over yearly lump sums, so might not be too far off it. The first year is harsh, then it's gets a lot easier. Shop around a bit more tho, there's a few people on KB who are our friends in times like this.. Cibby Chick and CaN can duel it out a bit.. can't remember who else..

...gotta love those no claim bonuses...

[texmo]

Thats less than me for my $3000 scooter... no claims bonus

[jimdaworm]

Maby because your in Auckland?

[texmo]

and im a courier....

[jimdaworm]

I bet your insurance is more expensive BECASUE your a courier

[dawnrazor]

I had suspected that i have been paying too much for my insurance, and now I'm sure. Its just that its with NZI and so is the car and house contents, and i get a group discount on the other stuff. Although its not that far away from this, but I'm 34 and have been riding for 10 years (only 2 in NZ).

Anyway the point, the point - is even though my insurance is fully comp, I'm only covered for theft if the bike is stolen whilst locked from a secure garage/building/van etc.
Now this doesn't effect me really so I've never bothered to much about it, but can anyone tell me if this is common policy or peculiar to NZI, as I am about to ring around and see if I can get a cheaper quote.

Cheers

[ScumKiller2]

It costs me $702 for full insurance for the bike ($7000)
plus $200 for my contents insurance.


7 Hundy sounds good to me. I just qot some quotes for a $12000 VTR1000 at around $1100pa. I've had my full licence for 6 or so years. Then again I am in Auckland.....

BTW - nice choice for a first full-licence bike. My first bike was a '96 cbr600 and i loved it.

[jimdaworm]

Hey guys it looks like I was wrong?? :doh:

I got a summary in the mail I didnt quite understand so I emailed someone I have delt with before there who is quite helpful:


"You are currently being charged approx $229 a month till your renewal which is in January. The statement showing $176.16 shows that this is the value that has been added on for the motorcycle to take you up to January and renewal and from then you will be charged the full amount - the amount is pro-rated so your insurances can all renew at the same time.
You pay 7.5% on top of the monthly premiums as an administration cost. "


$2748 a year:doobey: ?? I was thinking about paying the whole years in one go and not having to pay interest but still that would only cut it down to $192 less.

Where should I go :angry:



Also thanks again for all your peoples thoughts and comments!

[aff-man]

Feck me but that is a hell of a lot of insurance..... I have my bike insured for 8.5k and i'm only 22. excess is a little over a grand i think but i am only paying somewhere around $550 a year....

[jimdaworm]

Who are you with?

[aff-man]

Who are you with?

Shitty old state. But then it's like in my name but on my dad's account or something i dunno how he worked it but yeh it's way cheaper than most others i have found

[jimdaworm]

Only problem with them is everyone one I have spoken too, Dad, Mum, Step brother and more people even the consumer I belive says they are crap at paying out... and why have insurance if they wont pay out if you have a problem?:doh: